4 Trackers for a Market Pulse
If you’re interested in keeping track of the real estate market, it can be helpful to have access to economic indicators that provide insight into the pulse of the market.
As real estate professionals we are always keeping an awareness of the real estate market. RE/MAX Capitol Properties, is part of the larger RE/MAX network too, so we are able to get a solid understanding of how these economic indicators are having an impact on a local level but also at an international perspective. Here are four economic trackers to consider:
Housing Starts: This economic indicator tracks the number of new residential construction projects that have begun in a given time period. A higher number of housing starts can indicate a strong demand for new homes, which can be a positive sign for the overall real estate market.
Existing Home Sales: This tracker provides insight into the number of homes that have been sold in a given time period. It can be a good way to gauge the health of the market, as well as to identify trends related to buyer and seller behavior.
Mortgage Rates: Interest rates have a huge impact on the real estate market, as they can influence both the affordability and availability of mortgages. Keeping an eye on mortgage rates can help you understand how changes in the broader economy are affecting the real estate market.
Consumer Confidence: This economic indicator measures how confident consumers are feeling about the economy and their financial situation. A high level of consumer confidence can translate into increased demand for real estate, as people feel more secure in their ability to make large purchases like a home.
By keeping an eye on these economic indicators, you can gain a better understanding of the real estate market pulse and make more informed decisions about buying, selling, or investing in real estate. You can also talk to your real estate professional to find out their insights on these indicators to help you understand their knowledge and experience.
Watch Dominic explain the current answer to his favorite question, “hey Dom, how’s the market?” He loves the opportunity to update his clients on what’s happening in the Cheyenne real estate market.
If you’re looking for real estate assistance in Cheyenne, Laramie, or Southeast Wyoming, turn to RE/MAX, the #1 name in real estate. We combine the power of RE/MAX with our local expertise, commitment, and knowledge to provide you with the best real estate experience. Despite market fluctuations, our team is dedicated to helping you achieve your real estate goals. Don’t miss out on opportunities in this dynamic market – reach out to us today and let us guide you towards success in your real estate journey.